Crown Castle Inc. $CCI Stake Raised by Swiss Life Asset Management Ltd

Swiss Life Asset Management Ltd raised its holdings in Crown Castle Inc. (NYSE:CCI) by 15.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 88,679 shares of the real estate investment trust’s stock after acquiring an additional 11,858 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Crown Castle were worth $8,557,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in CCI. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Crown Castle in the 2nd quarter worth approximately $27,000. LRI Investments LLC acquired a new stake in Crown Castle during the third quarter valued at approximately $29,000. Wiser Advisor Group LLC bought a new stake in Crown Castle during the third quarter worth approximately $29,000. KERR FINANCIAL PLANNING Corp bought a new stake in Crown Castle during the third quarter worth approximately $31,000. Finally, Triumph Capital Management acquired a new position in Crown Castle in the third quarter worth approximately $31,000. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Down 3.1%

Shares of NYSE:CCI opened at $82.47 on Friday. The company’s fifty day moving average is $87.21 and its two-hundred day moving average is $90.45. The company has a market cap of $35.96 billion, a P/E ratio of 81.65, a price-to-earnings-growth ratio of 0.43 and a beta of 0.96. Crown Castle Inc. has a 12-month low of $77.01 and a 12-month high of $115.76.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Friday, March 13th. Crown Castle’s payout ratio is presently 420.79%.

Analysts Set New Price Targets

Several research analysts have issued reports on CCI shares. HSBC dropped their price target on Crown Castle from $107.00 to $88.40 and set a “hold” rating on the stock in a report on Thursday, February 5th. New Street Research cut Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 target price on the stock. in a report on Monday, January 5th. UBS Group cut their target price on Crown Castle from $116.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, February 5th. Zacks Research raised Crown Castle from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Finally, The Goldman Sachs Group decreased their price target on Crown Castle from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $100.13.

Insider Activity

In other Crown Castle news, VP Robert Sean Collins sold 3,000 shares of Crown Castle stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $87.49, for a total transaction of $262,470.00. Following the transaction, the vice president owned 5,800 shares of the company’s stock, valued at $507,442. The trade was a 34.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Edward B. Adams, Jr. sold 4,650 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $86.34, for a total value of $401,481.00. Following the completion of the transaction, the executive vice president owned 25,183 shares in the company, valued at $2,174,300.22. This represents a 15.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.10% of the stock is currently owned by corporate insiders.

Crown Castle Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.